The company also plans a Series B of around EUR 50m in 18 months to support scaling up in the US, Dzogan said. For Series B, it is particularly interested in US-based investors such as venture capital funds that invest in the space and can provide contacts in the local market, he said.
Founded in 2019, YDISTRI is an algorithm-computed cloud application to identify and redistribute unsold inventory (‘dead stock’) across retailers‘ branches. The software can calculate the sales potential of each item at individual stores and propose mass redistribution so that unsold goods can be sold at full price at another location.
YDISTRI helps companies maintain an optimal level of stock and thereby avoid both waste and unnecessary discounts, as well as shortages of items.
The company has 20 clients in the DACH region, the UK, the US, Canada and Mexico, and is in negotiations with a further 50 potential clients including some in France, Italy and Spain, Dzogan said. Its clients are leading retailers with hundreds or thousands of stores, he said.
Its clients include department stores, pharmacy chains, supermarkets, and retailers of other consumer goods such as petfood, beauty products and perfumes, do it yourself items and electronics. It is also talking to clothing and sports goods retailers, Dzogan said.